China to overtake U.S. as world’s largest oil importer, OPEC says

China could overtake the U.S. as the world’s largest oil importer by 2014, the Organization of the Petroleum Exporting Countries said, the latest evidence of how the American shale boom is reshaping global energy markets.
“With the shale boom in the (U.S.) threatening to drastically reduce America’s oil-import needs, China is expected to take its place in the number one spot,” OPEC said in a report posted on its website this week………………………………………..Full Article: Source